Globant S.A. (NYSE:GLOB) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Globant S.A. (NYSE:GLOB - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,454 shares of the information technology services provider's stock after acquiring an additional 15,129 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.28% of Globant worth $25,613,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock valued at $469,316,000 after acquiring an additional 153,385 shares during the period. abrdn plc grew its position in shares of Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock valued at $101,564,000 after purchasing an additional 126,333 shares during the period. Victory Capital Management Inc. grew its position in shares of Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock valued at $344,382,000 after purchasing an additional 96,257 shares during the period. Principal Financial Group Inc. increased its stake in shares of Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider's stock worth $27,060,000 after purchasing an additional 95,848 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider's stock worth $689,553,000 after purchasing an additional 88,829 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research firms recently issued reports on GLOB. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Susquehanna started coverage on Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. UBS Group lowered their target price on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group increased their target price on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $219.71.

Globant Price Performance

GLOB traded down $0.06 during trading hours on Tuesday, reaching $129.59. The company's stock had a trading volume of 1,097,391 shares, compared to its average volume of 542,680. The stock has a market cap of $5.71 billion, a PE ratio of 34.84, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a fifty-two week low of $124.53 and a fifty-two week high of $238.32. The business's 50-day moving average is $181.64 and its 200-day moving average is $202.43.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.